Senior Model Risk Specialist

Senior Model Risk Specialist - Anti Money Laundering and Fraud Model Validation Join to apply for the Senior Model Risk Specialist - Anti Money Laundering and Fraud Model Validation role at BMO. Responsibilities Support senior managers in the development and execution of the overall work plan. Manage assigned validation/review projects and ensure timely delivery of high‑quality validation reports. Monitor AML and Fraud models to identify early warning of model performance deterioration and ensure proper mitigation/action plans are in place. Perform research and analysis of applicable methodologies; benchmark model owners’ approaches and recommend appropriate alternatives. Produce validation reports that clarify issues, present actionable items, and include recommendations to help the lines of business enhance the validated model. Maintain an accurate and up‑to‑date model inventory reflecting the attributes evidenced in relevant documentation. Provide regular updates on assigned vetting/review, including reviews of models and methodologies, and ensure high model risk issues are raised and addressed at appropriate management level. Keep abreast of advances in credit risk analytics, vendor and consultant offerings, regulatory agencies, and competitor activities; recommend/develop appropriate enhancements for the Bank. Partner with lines of business, corporate functions, and ERPM to enhance understanding of model risks and ensure transparency of models used in their respective areas. Build and manage relationships with line‑of‑business risk managers and executives, providing internal consulting to proactively manage model risk. Support large‑scale projects and provide subject‑matter advisory support to other work streams as required. Develop relationships with other financial institutions and provide ongoing peer benchmarking support. Support the Senior Manager in providing training to junior resources on model risk and/or validation matters. Communicate model risk issues to the lines of business, ensuring risks are well understood and mitigation actions implemented, escalating when necessary to the Senior Manager. Assist the Senior Manager in ensuring all models under the team meet the requirements of the Enterprise Model Risk Management Framework. Assist the Senior Manager in ensuring all models are vetted, approved, or issued an exception based on quality assurance to protect the bank from unjustified, undue, or unidentified risks. Assist the Senior Manager in working with Model Governance to ensure AML model conditions are monitored and communicated with model owners in a timely manner. Assure the regular review process is followed, model conditions monitored, and fulfilment of conditions is assessed on a timely basis. Support the Senior Manager for the optimal operation of the team, including identifying and implementing improvements to work, processes, and systems for operational effectiveness and compliance. Effectively identify risks associated with models; assess models independently and provide recommendations to mitigate risks. Assist the Senior Manager to develop and continually enhance model validation methodology; conduct validation. Ensure AML, Fraud, Marketing and AI/ML models comply with the Bank’s Enterprise Model Risk Framework and OSFI/FRB/OCC requirements. Provide advisory support to large‑scale projects and other work streams to ensure models align with industry best practice. Knowledge and Qualifications Hands‑on experience and advanced knowledge in AML or Fraud models (transaction monitoring, watchlist screening, customer risk rating, credit card fraud, etc.). Good knowledge and relevant training in data mining, machine learning, and statistical analysis techniques, with at least 3 years of demonstrated experience in AML/Fraud or machine learning/statistical modeling. In‑depth knowledge of financial industry best practices. Good knowledge of regulatory requirements on AML models; experience in regulatory matters is an asset. Minimum: Master’s Degree; PhD preferred in a quantitative field (e.g., Mathematics, Computer Science, Statistics, Engineering). AML designation such as CAMS or ACAMS preferred. Skills Detail‑oriented, analytical, well‑organized, highly self‑motivated with strong interpersonal skills. Effective time management to deliver concurrent projects with competing priorities. Strong conflict‑solving ability and collaborative working with model owner/sponsor counterparts. Excellent presentation and communication skills; able to convey complex concepts and outcomes to non‑subject‑matter experts. Proficiency in computing and statistical/database modeling tools (Python, SAS, R, SQL, MATLAB, Access/VBA, etc.); Advanced SAS proficiency is required. Ability to adapt to various programming languages and environments. Compensation and Benefits Salary Range: $75,900.00 – $141,900.00 (Salaried) Salaries vary based on location, skills, experience, education, and qualifications. The range above represents BMO Financial Group’s pay range and type. Additional performance‑based incentives, discretionary bonuses, and other perks may be included. Eligible employees receive health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. For a full benefits overview, visit BMO Total Rewards. About BMO At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. We create lasting, positive change for our customers, communities, and employees, innovating and pushing boundaries to transform lives and businesses while powering economic growth worldwide. As a member of the BMO team you are valued, respected, and heard. From training and coaching to managerial support and networking opportunities, we help you gain valuable experience and broaden your skillset to make an impact from day one. EEO & Accessibility BMO is committed to an inclusive, equitable and accessible workplace. We learn from each other's differences, strengthening our people and perspectives. Accommodations are available on request for candidates throughout the selection process. To request accommodation, please contact your recruiter. Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. 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